A person working in Accounting and Finance in Australia typically earns around 93,500 AUD per year. Salaries range from 37,800 AUD (lowest average) to 188,000 AUD (highest average, actual maximum salary is higher).
This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different Accounting and Finance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
|Job Title||Average Salary|
|Account Examiner||47,400 AUD|
|Account Executive||86,000 AUD|
|Accounting Assistant||52,400 AUD|
|Accounting Associate||47,100 AUD|
|Accounting Clerk||40,000 AUD|
|Accounting Coordinator||56,900 AUD|
|Accounting Manager||135,000 AUD|
|Accounting Supervisor||92,500 AUD|
|Accounting Technician||48,500 AUD|
|Accounts Executive||80,200 AUD|
|Accounts Payable and Receivable Specialist||64,700 AUD|
|Accounts Payable Clerk||47,900 AUD|
|Accounts Payable Manager||129,000 AUD|
|Accounts Receivable Clerk||49,200 AUD|
|Accounts Receivable Manager||130,000 AUD|
|Assistant Accounting Manager||123,000 AUD|
|Assistant Auditor||66,200 AUD|
|Audit Supervisor||118,000 AUD|
|Auditing Clerk||50,900 AUD|
|Auditing Manager||142,000 AUD|
|Billing Coordinator||59,700 AUD|
|Billing Specialist||72,300 AUD|
|Billing Supervisor||98,100 AUD|
|Bookkeeping Specialist||66,200 AUD|
|Budget Analyst||113,000 AUD|
|Budget Manager||137,000 AUD|
|Business Support Analyst||74,700 AUD|
|Capital Markets Associate||95,200 AUD|
|Cash Flow Analyst||102,000 AUD|
|Cash Management Officer||79,500 AUD|
|Cashbook Clerk||45,700 AUD|
|Chartered Accountant||81,000 AUD|
|Collections Clerk||42,600 AUD|
|Collections Specialist||69,200 AUD|
|Corporate Treasurer||130,000 AUD|
|Cost Accountant||64,700 AUD|
|Cost Accounting Manager||136,000 AUD|
|Cost Analyst||100,000 AUD|
|Credit and Collection Manager||133,000 AUD|
|Credit and Collection Staff||50,600 AUD|
|Credit and Loans Officer||46,100 AUD|
|Credit Controller||88,400 AUD|
|Debt Adviser||113,000 AUD|
|Debt Collector||55,500 AUD|
|Debtors Clerk||46,400 AUD|
|Deputy CFO||188,000 AUD|
|Derivative Trader||115,000 AUD|
|Escrow Assistant||58,500 AUD|
|External Auditor||96,800 AUD|
|Finance Associate||57,000 AUD|
|Finance Executive||147,000 AUD|
|Finance Licensing Clerk||47,500 AUD|
|Finance Licensing Manager||127,000 AUD|
|Finance Licensing Specialist||73,100 AUD|
|Finance Officer||63,700 AUD|
|Finance President||195,000 AUD|
|Finance Relationship Manager||153,000 AUD|
|Finance Release Analyst||74,600 AUD|
|Finance Team Leader||142,000 AUD|
|Financial Actuary||99,200 AUD|
|Financial Administrator||107,000 AUD|
|Financial Analyst||122,000 AUD|
|Financial Applications Specialist||80,100 AUD|
|Financial Assistant||52,300 AUD|
|Financial Associate||51,200 AUD|
|Financial Claims Analyst||86,900 AUD|
|Financial Claims Manager||116,000 AUD|
|Financial Commercial Analyst||97,700 AUD|
|Financial Compliance Analyst||105,000 AUD|
|Financial Consultant||85,000 AUD|
|Financial Controller||105,000 AUD|
|Financial Coordinator||61,400 AUD|
|Financial Customer Service Manager||120,000 AUD|
|Financial Dealer and Broker||72,000 AUD|
|Financial Encoder||53,500 AUD|
|Financial Manager||176,000 AUD|
|Financial Manager||193,000 AUD|
|Financial Operations Manager||174,000 AUD|
|Financial Policy Analyst||101,000 AUD|
|Financial Project Manager||142,000 AUD|
|Financial Quantitative Analyst||111,000 AUD|
|Financial Reporting Consultant||92,000 AUD|
|Financial Reporting Manager||125,000 AUD|
|Financial Services Sales Agent||73,000 AUD|
|Fixed Assets Administrator||71,100 AUD|
|Forensic Accountant||77,400 AUD|
|Fraud Detection Supervisor||81,800 AUD|
|Fraud Prevention Manager||137,000 AUD|
|Fund Accountant||65,100 AUD|
|Grants Coordinator||48,500 AUD|
|Internal Auditor||84,700 AUD|
|Internal Control Adviser||104,000 AUD|
|Internal Control Officer||58,600 AUD|
|Inventory Accountant||69,400 AUD|
|Investment Analyst||125,000 AUD|
|Investment Fund Manager||147,000 AUD|
|Investment Underwriter||56,600 AUD|
|Investor Relations Manager||133,000 AUD|
|KYC Team Leader||132,000 AUD|
|Management Economist||154,000 AUD|
|Payroll Clerk||60,300 AUD|
|Payroll Manager||116,000 AUD|
|Pensions Administrator||70,200 AUD|
|Pricing Analyst||105,000 AUD|
|Private Equity Analyst||112,000 AUD|
|Proposal Development Coordinator||58,900 AUD|
|Receivables Accountant||60,800 AUD|
|Regulatory Accountant||73,600 AUD|
|Retirement Plan Analyst||106,000 AUD|
|Revenue Management Specialist||111,000 AUD|
|Revenue Recognition Analyst||126,000 AUD|
|Risk Management Director||163,000 AUD|
|Risk Management Supervisor||136,000 AUD|
|Tax Accountant||60,600 AUD|
|Tax Advisor||97,200 AUD|
|Tax Associate||55,200 AUD|
|Tax Manager||128,000 AUD|
|Treasury Accountant||69,000 AUD|
|Treasury Analyst||111,000 AUD|
|Underwriting Assistant||41,500 AUD|
|Vice President of Finance||182,000 AUD|
Accounting and Finance salaries in Australia range from 37,800 AUD per year (minimum average salary) to 188,000 AUD per year (maximum average salary, actual maximum is higher).
The median salary is 97,300 AUD per year, which means that half (50%) of people working in Accounting and Finance are earning less than 97,300 AUD while the other half are earning more than 97,300 AUD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Accounting and Finance are earning less than 60,800 AUD while 75% of them are earning more than 60,800 AUD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 148,000 AUD while 25% are earning more than 148,000 AUD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
A Master's degree program or any post-graduate program in Australia costs anywhere from 37,800 Australian Dollar(s) to 114,000 Australian Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Australia who work in Accounting and Finance earn 5% more than their female counterparts on average.
Accounting and Finance professionals in Australia are likely to observe a salary increase of approximately 10% every 14 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Australia for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Accounting and Finance is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
19% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 81% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Accounting and Finance is 3% more than that of All Jobs.
|Gold Coast-Tweed||101,000 AUD|
|Sunshine Coast||95,500 AUD|
Where can you get paid more, working for a private company or for the government? Public sector employees in Australia earn 5% more than their private sector counterparts on average across all sectors.